Warranty Deed

Warranty deed can be defined as a legal document that can be used to transfer property from one party to the other in a legal manner. This document claims that the owner of the property can legally transfer its property to any other party and no other entity private or public has claim or lien on that property being transferred. The warranty deed is mostly used in transferring the property from one entity to the other and also it is used to make property warranties about the title of the property. Warranty deed can be defined as a legal document that can be used to transfer property from one party to the other in a legal manner. This document claims that the owner of the property can legally transfer its property to any other party and no other entity private or public has claim or lien on that property being transferred. The warranty deed is mostly used in transferring the property from one entity to the other and also it is used to make property warranties about the title of the property. There are a number of features of a warranty deed as it contains the legal description of the property as well as the name of the grantor that is transferring the property from its own ownership and the information about the grantee that is taking the ownership of the property. It also includes the language that is used to transfer the ownership of the property from grantor to the grantee. There are warranty deeds that exist with the conjunction of the insurance so that it can protect the ownership of the grantee. These deeds give legal resources to the grantee in order to act against any future claims regarding the ownership of the property. Contrast to the warranty deed there is a Quitclaim deed that identifies the interest of the entity in a given property without guaranteeing whether the entity has an interest in the rights of the property. Therefore the Quitclaim deed in not much useful in transferring the ownership of the property. There are a number of features of a warranty deed as it contains the legal description of the property as well as the name of the grantor that is transferring the property from its own ownership and the information about the grantee that is taking the ownership of the property. It also includes the language that is used to transfer the ownership of the property from grantor to the grantee. There are warranty deeds that exist with the conjunction of the insurance so that it can protect the ownership of the grantee. These deeds give legal resources to the grantee in order to act against any future claims regarding the ownership of the property. Contrast to the warranty deed there is a Quitclaim deed that identifies the interest of the entity in a given property without guaranteeing whether the entity has an interest in the rights of the property. Therefore the Quitclaim deed in not much useful in transferring the ownership of the property.

Other Related Accounting Articles:

• Qualified Disclaimer
• Warranty
• How to Account Warranties
• Balance Sheet Reserve
• Operating Lease
• The Bill of Exchange
• Creditor
• Actual Cash Value
• Beneficial Interest
• Accommodation Endorsement